08:05 AM EDT, 04/24/2024 (MT Newswires) -- Vertiv Holdings ( VRT ) reported Q1 adjusted earnings Wednesday of $0.43 per diluted share, up from $0.24 a year earlier.

Analysts polled by Capital IQ expected $0.36.

Net sales for the quarter ended March 31 were $1.64 billion, compared with $1.52 billion a year earlier.

Analysts surveyed by Capital IQ expected $1.62 billion.

The company said it now expects Q2 adjusted earnings of $0.53 to $0.57 per diluted share, and net sales for the quarter of $1.90 billion to $1.95 billion. Analysts polled by Capital IQ expect adjusted earnings of $0.55 per diluted share on revenue of $1.90 billion.

For the full year of 2024, Vertiv ( VRT ) expects adjusted earnings of $2.29 to $2.35 per diluted share on net sales of $7.54 billion to $7.69 billion. Analysts surveyed by Capital IQ expect adjusted earnings of $2.30 per diluted share on net sales of $7.63 billion.

The company's shares were up 17% in recent Wednesday premarket activity.

Price: 92.78, Change: +13.61, Percent Change: +17.19